On Thursday, the US stock exchanges should go up again. The futures on the major stock indices are up 0.2 to 0.6 percent before the market. Prices continue to be buoyed by hopes that the US Federal Reserve’s rate-hiking cycle will end soon after inflationary pressures eased more-than-expected in June, CPI data released on Wednesday showed.
The price data has raised hopes that the US economy will experience a “soft landing,” commented Stephen Innes, Managing Partner at SPI Asset Management. On the positive side, disinflation has been painless in a US economy characterized by low unemployment and solid growth, he added.
Investors are now eager to see if producer prices announced for Thursday show a similar trend. In addition, the weekly data on initial jobless claims will provide information on the situation on the labor market.
At the same time, however, the balance sheet season that is just beginning is increasingly coming into focus with figures from the beverage company Pepsico. These are well received in a first reaction on the market, the share increases by 1.8 percent. On the other hand, the figures from Millerknoll (pre-market -4.9%), which were already presented on Wednesday after the close of trading, were disappointing. The furniture manufacturer ended the fourth quarter with a loss.
Disney (+1%) is well received that the entertainment group has extended the contract with CEO Robert Iger.
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July 13, 2023 06:44 ET (10:44 GMT)
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